Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


Online Articles

Capitalism and Democracy

Capitalism and DemocracyCapitalism and Democracy: A recipe for Wealth and Freedom
Almost 90% of all Germans believe that democracy is the best political system, despite the slight decrease in approval ratings during the past few years. However, only a quarter of the population thinks the same way about capitalism, (...)

Brexit’s turmoil and UK commercial property funds

Brexit's turmoil and UK commercial property fundsCommercial property sector in UK after the Brexit referendum The UK’s choice to leave the EU triggered great instability on the financial markets resulting in currency value shocks and asset volatility while both businesses and consumers’ confidence fell sharply. Commercial property has been amid (...)

Reform in the market for Higher Education in England

Reform in the market for Higher Education in EnglandIn May 2016, the Ministry for Universities and Science of the UK Government published the white paper “Success as a knowledge-economy”. The explicit intention of the document is to indicate a path of reform for higher education in the country. The proposal argues in favour of a series of (...)

The wind of Brexit on the EU-Canada Comprehensive Economic and Trade Agreement (CETA)

The wind of Brexit on the EU-Canada Comprehensive Economic and Trade Agreement (CETA)The agreement
On the 5th of July, just a few days after the UK expressed its intention to regain trade negotiation autonomy with the Brexit referendum, the EU has found itself in a pivotal position. It had to take an important decision regarding the nature of the Comprehensive Economic and (...)

Italian Banks: Bail-In or Bail-Out

Italian Banks: Bail-In or Bail-OutSomething is rotten in Italy, namely Italian bank loans amounting to € 360 billion. For around one out of five loans payback is doubtful. Such an imbalance in the Italian banking sector is a reminder of the financial crisis in 2008. In response to the crisis the European Single Resolution (...)

Economic Freedom: Remedy against Corruption

Economic Freedom: Remedy against CorruptionDuring the next months the Olympic Games will take place in Brazil. As was already the case during the Football World Championships 2014, we will see many reports about the widespread corruption in this country. Unfortunately, far less attention will be paid to how underdeveloped economic (...)

The Serbian r(EU)volution passes through privatization and political stability

The Serbian r(EU)volution passes through privatization and political stabilityA difficult economic scenario
The Serbian economy needs a shock to take a path of recovery based on growth and modernization. The IMF recently argued that even if the country “continued to make important progress in fiscal consolidation… important challenges remain to ensure a durable fiscal (...)

New Policy Paper Available: Taxing corporations: why it is not only bad, but unjust
by Pierre Bessard and Fabio Cappelletti

New Policy Paper Available: Taxing corporations: why it is not only bad, but unjustOur latest Policy Paper is now available.
Taxing corporations: why it is not only bad, but unjust by Pierre Bessard and Fabio Cappelletti (Liberal Institute, Geneva, Switzerland).

The potential of sharing (the) economy

The potential of sharing (the) economySome figures on the sharing economy
The sharing economy is a market system that requires peer-to-peer-based sharing of access to goods and services. The sharing is possible thanks to the use of digital platforms that allow peer-to peer transactions. The phenomenon (gross revenues were (...)

A report on the IREF Workshop in London (6th June 2016)

A report on the IREF Workshop in London (6th June 2016)On Monday the 6th of June 2016 an IREF workshop in cooperation with St. Mary’s University took place in London. International academic presenters gave talks on their recent research articles, providing stimulating and interesting insights on issues that are at the centre of the IREF proposals. (...)

The reform of the BBC

The reform of the BBCThe BBC Charter
The British Broadcasting Corporation, BBC, is the oldest and largest broadcasting corporation in the world. It is funded (partially) by annual licence fees charged to all households possessing any type of equipment to receive TV broadcasts. BBC shows, documentaries and TV (...)

Universal Credit and Cross Generation Inequality after the Welfare System Reform in the UK

Universal Credit and Cross Generation Inequality after the Welfare System Reform in the UKIn recent years, the Welfare System in the UK has undergone radical changes beginning with the design and implementation by the Government of the Universal Credit, a single payment streamlining six in-work benefits (including Jobseeker’s Allowance; Housing Benefit; Working Tax Credit; Child Tax (...)

(Br)Exit Strategy

(Br)Exit StrategyIn less than a month, UK voters will be asked to express their intention to leave the EU in a referendum. The UK Prime Minister David Cameroon has strongly argued in favour of staying. However there is disagreement among Conservative MPs, and a few Ministers of his Government have spoken in (...)

The sector of delivery services and the privatization of Royal Mail

The sector of delivery services and the privatization of Royal Mail 2016 is going to be a crucial year for Royal Mail, RM, the 500 year old British postal operator whose privatization process (started in October 2013) was finally completed in October 2015. In a broad sense, it is a decisive time for the entire sector of delivery services in Great Britain. The (...)

The market for sex, human trafficking and the EU

The market for sex, human trafficking and the EUBack in 2014, several European countries started including the revenues from drugs and prostitution into their national accounting systems. These two sectors have several characteristics in common. First, the consumption of drugs and paid sex is usually considered an immoral activity from a (...)

The Northern Powerhouse

The Northern PowerhouseAn historic decentralization deal in England
There is historically in England a North/South division. In the South, trade and financial services have made London the target of international investments and the principal source of economic growth in the country. In the North, there is no city (...)

The Intellectual Property Rights Battle in the era of the Mass Customisation Revolution

The Intellectual Property Rights Battle in the era of the Mass Customisation Revolution Addictive Manufacturing (AM) is the name adopted in industries whose production is defined by the use of large scale 3D printing techniques. 3D printing is a technology which builds three-dimensional objects from a digital prototype. Today AM represents the foremost level of digitalisation in (...)

The Italian (Bad) Bank

The Italian (Bad) BankA deteriorated banking sector in a worn-out economy At the beginning of 2016, in the context of the new EU legislation on “bail in”, Italy found itself unprepared to face the emerging crisis of its credit system, mainly caused by two correlated elements: 1. a banking sector weakened by a large (...)

A critical time for the NHS

A critical time for the NHS How is NHS coping with winter?
Winter is historically, and not surprisingly, a very challenging time for the UK National Health System, NHS, due to lower temperatures and the spread of viral infections. Winter 2015/2016 seems to be particularly bad and the system is showing clear signs of a (...)

The debate over Net Neutrality

The debate over Net NeutralityNet neutrality: what is the debate about?
The Internet has probably been the fastest developing industry of the last two decades, leading it to become a necessary instrument in our daily life and a possible engine of economic growth. In this context, the net neutrality principle broadly says (...)

The 2016 reform of the UK labour market

The 2016 reform of the UK labour marketThe UK labour market at the beginning of 2016 is in a rather good shape. The rate of unemployment has decreased steadily in the last two years and is now approaching pre-crisis figures. Employment at 73.9% is reaching also record levels.
Presenting the summer budget, George Osborne, the (...)

How fiscal policy of the 1400s created Industrial Revolution in the 1800s

How fiscal policy of the 1400s created Industrial Revolution in the 1800sThe Nobel-Laureate Douglass North passed away at the end of November. Though he didn’t specialise in fiscal questions, his analysis of institutions in early modern Europe reveals that actual fiscal choices about how to finance an army help to determine the fortunes and falls of European powers. (...)

No Schwexit, at least for now.
New developments in the land of the fiscally federal.

No Schwexit, at least for now.Switzerland may be known for low taxes, but that does not prevent it from redistributing them; richer regions subsidise the poorer ones. Now at least one paying canton is starting to protest against the arrangement. There really is a big difference between how much taxpayers in different (...)

Sugar taxation won’t work and anway, there’s a better way.

Sugar taxation won't work and anway, there's a better way. The UK government has been watching Jamie Oliver’s TV shows and now wants to implement his plans for a new tax on sugar. The Commons‘ Health Committee has reported its overwhelming support for the idea at the end of November. Other than arguments that such taxes are “good per se“ because they will (...)

UK government is wrong. 5p for plastic bags *is* a tax. And it’s badly designed.

UK government is wrong. 5p for plastic bags *is* a tax. And it's badly designed.At the beginning of October, England became the last constituent part of the United Kingdom to introduce a compulsory charge for plastic shopping bags (to be paid by the shopper), after similar taxes had been introduced in Scotland, Wales and Northern Ireland in previous years. The relevant (...)

Policy Paper: Asylum migration and barriers to labour market entry
Policy recommendations for easier access

Policy Paper: Asylum migration and barriers to labour market entryA successful integration of asylum migrants arriving in Europe will largely depend on their success on the European labour arket. In a new Policy Paper we investigate the labour market barriers faced by asylum migrants in Germany, France and the UK. We recommend a full elimination of barriers (...)

How taxes have created the cheating Volkswagen

How taxes have created the cheating VolkswagenStrange behaviours are often caused by strange taxes or subsidies. The strange behaviour of Volkswagen believing it could cheat and not get found out was motivated partly by the strange tax/subsidy policies in Europe which subsidised diesel at the cost of petrol (...)

Populism and government greed jeopardise rule of law

Populism and government greed jeopardise rule of lawIn an alarming trend, individuals, companies and institutions that have committed no crime are increasingly finding themselves subject to public witch-hunts on ill-defined ‘ethics’ charges. The practice is gaining traction in several countries, though it remains unclear who has the authority to (...)

Improving the environment in the EU: taxation does not work, property rights do.

Improving the environment in the EU: taxation does not work, property rights do.Two routes exist in theory towards making people behave more environmentally: through taxation, and through better defining and upholding of property rights. Empirical evidence suggests that at least in the EU, environmental taxation does not seem to work. Greater reliance on property rights (...)

Press Independence, State Broadcasters, and Safeguard Against Power Abuse

Press Independence, State Broadcasters, and Safeguard Against Power AbuseAn essential component of a free society is independent press. It plays a central role in preventing both state actors and private interest groups from pursuing their own interests through state power too aggressively. Journalists independent from political and economic power work effectively (...)

Grab on African resources deepens. Not by China, but by the EU.

Grab on African resources deepens. Not by China, but by the EU.The best way how rich countries can help the poorer ones has always been to teach them how to fish. Not giving them fish. And certainly not taking fish away from them.
Yet this is what the EU has been doing since the 1970s, and in September it has renewed three multi-year greatly underpriced (...)

Germany: the highest income equality among large rich economies

Germany Income per capita is not only high in Germany, it is also relatively equally distributed in the population. OECD data indicate that only a few small countries have income both higher and more equally distributed than Germany. In other large European countries like France, UK, Italy or (...)

EU has given a new meaning to the idea of "Fair Taxes"

EU has given a new meaning to the idea of "Fair Taxes""Fair tax(es)" is a beautiful idea everybody wants to subscribe to. Including, of course, modern EU politicians. Their idea of "fair tax", however, differs very much from the way in which people understood the concept in the past.
It is no longer about making sure the tax is fair to the (...)

Subsidies: the real reason why foreigners cannot own land

Subsidies: the real reason why foreigners cannot own landIt is good when foreigners buy agricultural land. Johnny Foreigner will have evidentnly paid more than anyone else, and he can bring access to better capital, technology, know-how or marketing channels. That’s what the single market is for.
Yet governments fear him and legalise against him - (...)

Can governments really save money by creating disasters abroad?

Can governments really save money by creating disasters abroad?A new study from a German economics institute claims that the German state has already made €100bn from the Greek crisis as lenders flee from Greece into the safe haven of German government bonds, reducing their interest rate and saving the German government money on debt interest payments. (...)

Slovak government decides to prove that Marx was right
7 Lessons about Governments Bedding Big Business

Slovak government decides to prove that Marx was rightEach employed Slovak worker will pay about a week’s take-home pay in extra taxes so that their government can bribe Jaguar into creating a few jobs located in Slovakia (for a while). We present lessons this teaches us, one for each day of such (...)

Do economists believe too much in the market?
Market failure is discussed more frequently than government failure

Do economists believe too much in the market? Economists are often accused (especially by other disciplines) of exaggerating the virtues of the market and of systematically downplaying the chances of a successful government intervention. In this view, economists are "market believers" and “state sceptics”, which is then reflected not only in (...)

Next tax on the menu in the EU: tax on meat.

Next tax on the menu in the EU: tax on meat.The imagination of EU governments to come up with new kinds of tax is apparently inexhaustible. Tax on meat is now being prepared, as an answer to alleged “problems” with meat production and consumption. But taxes are generally bad solutions to “problems”, especially when those problems are created (...)

Minimum wage increases employment! (But not of humans).

Minimum wage increases employment! (But not of humans).It’s not just USA who is raising minimum wages significantly. New or increased minimum wages are spreading all across the EU, too (e.g. Germany, UK, Portugal..). If we take McDonald’s as a symbol of "minimum wage jobs", which governments are working the hardest to deprive such workers of any job (...)

Just How Do Greek Taxes Differ From the Rest of the OECD?

Just How Do Greek Taxes Differ From the Rest of the OECD?If it wasn’t obvious already, Greeks do their taxes differently.. They rely more than is customary in OECD on the less visible taxes of VAT and Social Security. Income tax revenue (from people and companies) is much less prominent. If they are risking a lot less, it time to try to actually lower (...)

Hungary vs. Czechia: new taxes discriminate and favour big business

Hungary vs. Czechia: new taxes discriminate and favour big businessNew retail tax in Hungary discriminates big business, which just happens to coincide with the finance minister’s nationalistic interest. New retail tax in Czechia favours big business, which just happens to coincide with the finance minister’s business interest. Curious thing, (...)

It’s almost official. Bitcoin will be VAT-exempt in the EU

It's almost official. Bitcoin will be VAT-exempt in the EUYou’ve heard of Bitcoin. Is it primarily a currency or a service?
Its users probably could not care less; for many it will be both. Yet a distinction is necessary. Why? Well, taxes, of course! What else?
If it is primarily a currency, buying or selling bitcoin (exchanging it for your (...)

Greeks hate it when people actually pay their taxes
Are Germans the redeemer or destroyer of the Greek tax system?

Greeks hate it when people actually pay their taxesTwo recent stories from Greece reveal very different treatments of Germans paying taxes in Greece – depending on whether they are people or corporations.

Piketty’s three main mistakes
New IREF book

Piketty's three main mistakesThomas Piketty’s book “Capital in the 21st century” was dubbed as “blockbuster”. But for a group of French intellectuals under the lead of IREF, a free market institute in Paris, it was important to demonstrate that the French economist’s “Capital” did not deserve its commercial success. “Anti-Piketty” (...)

Propaganda Wars: interest on Greek debt is not "profit"

Propaganda Wars: interest on Greek debt is not "profit"Greece failed to pay a 1.5 billion installment by the end of June. The rhetoric has long portrayed the lenders as fat cats living off Greece’s misery. Varoufakis had his sight on 1.9 billion which he called “ECB’s profiteering on poor Greeks” and should be “returned” to the Greeks to cover the IMF (...)

EU’s tax haven blacklist: created by black magic method

EU's tax haven blacklist: created by black magic methodHow do you make a credible list of countries whose tax policies you don’t agree with? Do you ask only half of your members, let them decide their own criteria, and have it approved by a few interest groups? If you are the EU, then (...)

The “Other” European Banana Problem

The “Other” European Banana Problem Two decades after the last EU bananagate, it’s going bananas again. EU subsidy programme to bring "fruits, vegetables and bananas" [sic!] to schools is only partly trying to do a "good thing". Partly it’s changing schools into dumpsters for excess output of oversubsidised agriculture. And the EU (...)

Social policy cannot pursue social good, says the ECJ

Social policy cannot pursue social good, says the ECJSo you thought you could have your cake and eat it. That you reduce tax on something which has benefitial implications for a disadvantaged social group, saves resources and is good for the environment. Think again, says the EU Court. Your young ones are, apparently, not a legitimate aim of (...)

EU has too much money: The Proof

EU has too much money: The ProofHow do you know that any institution has too much money? When it does not manage, in spite of best intentions, to spend them all. Then there is room for scaling down the budget. The money will not disappear - it will be spent by the original "donors" instead. We show that the EU is, at least to (...)

Greece cannot save itself by taxing exports
Summer in Greece? Silly taxes ahead.

Greece cannot save itself by taxing exportsIn all epochs, exports were almost always considered good for an economy. That’s why modern governments have generally stayed away from trying to tax exports. Not so the current Greek government, however. By increasing the tax rate on a vital component of Greek exports it is hoping to raise some (...)

0 | 50 | 100 | 150 | 200 | 250 | 300 | 350 | 400

 css js

CLOSE

Monthly newsletter
Receive our publications for free

By continuing browsing our website, you agree with our cookies policy